On the lighter side this week - Chicago- Wilfredo Gonzalez was helping remodelling a home in Cicero, Illinois, when he allegedly stole a diamond ring the homeowner had left in her bathroom. When she realised the ring was missing, the homeowner had her husband confront Gonzalez. The repairman at first denied taking the ring, but when the confrontation turned into a struggle, prosecutors say he pulled the ring out of the place he had hidden it and swallowed it. Police were called and took Gonzalez to a hospital, where a stomach X-ray revealed the missing ring working its way down his gastrointestinal tract. The officers subsequently retrieved the missing ring.
They say good things come to those who wait. Is that the same for the property industry?
Headlines: Retrenchments are looming in the home loan departments of two of the four major banks.
Jan Kleynhans, the chief executive of First National Bank (FNB) Home Loans, confirmed that the bank was restructuring its sales department but stressed this was not a retrenchment programme across the business but a specific process to improve operating efficiencies in this part of its business.
Absa declined to give details, but Louis von Zeuner, the deputy group chief executive, said: We have no mass retrenchment programme in place.Instead Absa continued to focus on programmes that enhanced efficiencies and effectiveness by reducing duplication, he said.
Standard Banks Ntombela said the group continued to manage its costs but neither the group nor home loans was planning any retrenchments. Ntombela stressed that Standard Bank was committed to home loan business because it was a service customers needed.
Keith Hutchinson, the managing executive of Nedbank Retail Secured Lending, said Nedbank Home Loans viewed its staff as vital contributors to the banks overall success and remained focused on strengthening its relative competitive position.
Market news: The global recession may well have prompted even the super-rich to pare down lavish lifestyles. But theres still plenty of appetite for luxury second homes in sun and snow belts across Europe, the Caribbean and Asia. Residential property - Foreign attraction
Trouble ahead National roads boss Nazir Alli passes seven toll gantries when he drives from his home in Marlboro, Johannesburg to his office east of Pretoria . Under the initial tariffs announced by the department of transport to pay for Gautengs toll roads, the SA National Roads Agency (Sanral) CEO would have paid R700/month on his daily commute. Even with the revised tariff regime, he will pay over R500/month. Exempting minibus taxis and buses from road tolls has done little to ease anger and frustrations about the new charges as show SAs road construction costs are of the highest in the world.
Property Count: 12/08/2011|